D-Wave Quantum Inc. (QBTS) balance sheet
NASDAQ · Technology · Computer Hardware · 385 employees · CEO Alan E. Baratz
- Price
- $10.65 -7.87%
- Market cap
- $4.01B
- Enterprise value
- $3.73B
- Last report
- Q2 '26 filed 2026-08-06
- Next report
- 2026-11-10 EPS est. -$0.10
At the end of Q2 '26 D-Wave Quantum Inc. (QBTS) held $546M in cash and short-term investments against $13.1M of debt incl. leases. Total assets $1.16B, total liabilities $75.3M, shareholders' equity $1.08B.
Balance sheet
| Balance sheet | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $53.3M | $41.3M | $27.3M | $40.9M | $29.3M | $178M | $304M | $819M | $836M | $635M | $338M | $297M | |
| Short-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $249M | $250M | $250M | |
| Receivables | $891K | $1.65M | $1.74M | $1.57M | $1.46M | $1.76M | $1.05M | $2.44M | $4.42M | $4.68M | $10.6M | $2.02M | |
| Inventory | $2.24M | $2.08M | $2.08M | $2.13M | $1.9M | $1.69M | $1.7M | $2.45M | $2.83M | $2.78M | $2.92M | $3.49M | |
| Other current assets | $36K | $543K | $560K | $382K | $487K | $1.26M | $1.21M | $791K | $1.37M | $803K | $1.17M | $0 | |
| Current assets | $58.2M | $47M | $33.7M | $46.9M | $35.1M | $185M | $311M | $829M | $848M | $896M | $607M | $561M | |
| Property, plant & equipment (net) | $10.4M | $10.8M | $10.8M | $10.8M | $11.1M | $11.4M | $11.1M | $11.4M | $12.3M | $14.4M | $25.4M | $34.1M | |
| Long-term investments | $1.2M | $1.17M | $2.57M | $2.4M | $2.57M | $2.57M | $2.57M | $2.57M | $3.4M | $2.39M | $4.23M | $0 | |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $343M | $343M | |
| Intangible assets | $195K | $179K | $302K | $408K | $436K | $490K | $531K | $586K | $803K | $915K | $215M | $212M | |
| Other non-current assets | $151K | $189K | $1.25M | $1.31M | $415K | $355K | $547K | $483K | $1.15M | $1.92M | $5.21M | $9.31M | |
| Non-current assets | $12M | $12.3M | $14.9M | $14.9M | $14.5M | $14.8M | $14.7M | $15.1M | $17.7M | $19.6M | $593M | $598M | |
| Total assets | $70.2M | $59.4M | $48.6M | $61.8M | $49.6M | $200M | $326M | $844M | $866M | $916M | $1.2B | $1.16B | |
| Liabilities | |||||||||||||
| Accounts payable | $1.54M | $1.47M | $1.04M | $1.17M | $696K | $815K | $1.02M | $1.19M | $992K | $950K | $1.71M | $4.52M | |
| Accrued expenses | $4.36M | $2.1M | $3.93M | $2.51M | $2.68M | $3.29M | $4.17M | $4.27M | $3.33M | $5.49M | $6.66M | $12.1M | |
| Short-term debt | $30.1M | $399K | $369K | $32.7M | $14.1M | $348K | $348K | $0 | $144K | $134K | $140K | $0 | |
| Deferred revenue | $2.22M | $2.67M | $2M | $2.59M | $2.91M | $18.7M | $5.55M | $4.91M | $3.39M | $2.78M | $9.5M | $9.23M | |
| Other current liabilities | $3.71M | $3.25M | $2.08M | $2.53M | $3.89M | $5.5M | $2.39M | $7.31M | $6.17M | $10.3M | $8.8M | $0 | |
| Current liabilities | $43.3M | $11.3M | $10.9M | $42.9M | $25.8M | $30.1M | $15M | $19.3M | $15.5M | $21.1M | $28.4M | $27.3M | |
| Long-term debt | $9.11M | $63.9M | $63M | $31.5M | $32M | $30.1M | $30.4M | $32.1M | $32.1M | $35.8M | $35.4M | $0 | |
| Lease obligations (non-current) | $6.88M | $7.03M | $6.98M | $6.81M | $6.97M | $6.39M | $6.21M | $6.32M | $6.1M | $6.05M | $9.7M | $11.8M | |
| Deferred revenue (non-current) | $92K | $79K | $399K | $33K | $57K | $670K | $700K | $654K | $629K | $560K | $2.08M | $1.32M | |
| Other non-current liabilities | $1.97M | $1.63M | $4.28M | $2.09M | $1.61M | $69.9M | $65.9M | $91M | $141M | $0 | $0 | $34.9M | |
| Non-current liabilities | $18.1M | $72.6M | $74.7M | $40.4M | $40.6M | $107M | $103M | $130M | $180M | $42.4M | $47.2M | $48M | |
| Total liabilities | $61.4M | $83.8M | $85.6M | $83.3M | $66.5M | $137M | $118M | $149M | $195M | $63.6M | $75.6M | $75.3M | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $15K | $16K | $16K | $18K | $20K | $27K | $29K | $33K | $34K | $35K | $37K | $37K | |
| Retained earnings | -$443M | -$483M | -$500M | -$518M | -$541M | -$627M | -$632M | -$800M | -$940M | -$982M | -$1B | -$1.05B | |
| Accumulated other comprehensive income | -$10.5M | -$10.5M | -$10.5M | -$10.4M | -$10.6M | -$10.5M | -$10M | -$9.23M | -$9.13M | -$9.02M | -$9.16M | -$9.04M | |
| Shareholders' equity | $8.8M | -$24.5M | -$37M | -$21.5M | -$16.9M | $62.6M | $207M | $694M | $671M | $852M | $1.12B | $1.08B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $47.5M | $72.7M | $71.8M | $72.4M | $54.6M | $38.4M | $38.5M | $40M | $39.8M | $43.5M | $46.8M | $13.1M | |
| Net debt (debt - cash) | -$5.82M | $31.3M | $44.5M | $31.5M | $25.4M | -$140M | -$266M | -$779M | -$796M | -$592M | -$291M | -$284M | |
| Balance sheet | Trend | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & equivalents | $21.3M | $9.48M | $7.07M | $41.3M | $178M | $635M | |
| Short-term investments | $0 | $0 | $0 | $0 | $0 | $249M | |
| Receivables | $16.2M | $2.07M | $1.08M | $1.65M | $1.76M | $4.68M | |
| Inventory | $2.52M | $2.11M | $2.2M | $2.08M | $1.69M | $2.78M | |
| Other current assets | $0 | $1.41M | $1.54M | $440K | $1.26M | $803K | |
| Current assets | $41.3M | $16M | $13.9M | $47M | $185M | $896M | |
| Property, plant & equipment (net) | $5.84M | $11.8M | $11.4M | $10.8M | $11.4M | $14.4M | |
| Long-term investments | $5K | $1.17M | $1.17M | $1.17M | $2.57M | $2.39M | |
| Intangible assets | $148K | $272K | $244K | $179K | $490K | $915K | |
| Other non-current assets | $182K | $184K | $183K | $189K | $355K | $1.92M | |
| Non-current assets | $6.18M | $13.5M | $13M | $12.3M | $14.8M | $19.6M | |
| Total assets | $47.5M | $29.5M | $26.9M | $59.4M | $200M | $916M | |
| Liabilities | |||||||
| Accounts payable | $2.18M | $2.11M | $3.76M | $1.47M | $815K | $950K | |
| Accrued expenses | $1.97M | $2.43M | $5M | $2.1M | $3.29M | $5.49M | |
| Short-term debt | $355K | $432K | $2.28M | $399K | $348K | $134K | |
| Deferred revenue | $4.71M | $2.69M | $1.83M | $2.67M | $18.7M | $2.78M | |
| Other current liabilities | $1.21M | $1.11M | $1.64M | $3.25M | $5.5M | $10.3M | |
| Current liabilities | $12M | $10.4M | $16M | $11.3M | $30.1M | $21.1M | |
| Long-term debt | $1.32M | $30.3M | $31.2M | $63.9M | $30.1M | $35.8M | |
| Lease obligations (non-current) | $1.44M | $6.99M | $7.3M | $7.03M | $6.39M | $6.05M | |
| Deferred revenue (non-current) | $0 | $54K | $9K | $79K | $670K | $560K | |
| Other non-current liabilities | $0 | $18K | $1.89M | $1.63M | $69.9M | $0 | |
| Non-current liabilities | $2.76M | $37.4M | $40.4M | $72.6M | $107M | $42.4M | |
| Total liabilities | $14.7M | $47.8M | $56.4M | $83.8M | $137M | $63.6M | |
| Equity | |||||||
| Common stock & paid-in capital | $2.49M | $0 | $11K | $16K | $27K | $35K | |
| Retained earnings | -$294M | -$347M | -$400M | -$483M | -$627M | -$982M | |
| Accumulated other comprehensive income | -$10.5M | -$10.4M | -$10.4M | -$10.5M | -$10.5M | -$9.02M | |
| Shareholders' equity | $32.7M | -$18.4M | -$29.5M | -$24.5M | $62.6M | $852M | |
| Debt | |||||||
| Total debt (incl. leases) | $4.66M | $39.4M | $42.3M | $72.7M | $38.4M | $43.5M | |
| Net debt (debt - cash) | -$16.7M | $29.9M | $35.2M | $31.3M | -$140M | -$592M | |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02